Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Update

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 4,000,000 shares, a growth of 19.0% from the March 15th total of 3,360,000 shares. Approximately 5.7% of the company’s stock are sold short. Based on an average trading volume of 496,600 shares, the short-interest ratio is currently 8.1 days.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their target price on shares of Ivanhoe Electric from $15.50 to $14.50 and set a “sector outperform” rating for the company in a report on Tuesday, April 9th.

Insiders Place Their Bets

In other news, VP Graham Richard Thomas Boyd purchased 4,000 shares of the stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $7.44 per share, for a total transaction of $29,760.00. Following the acquisition, the vice president now directly owns 6,510 shares of the company’s stock, valued at approximately $48,434.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ivanhoe Electric

A number of institutional investors and hedge funds have recently made changes to their positions in IE. Osaic Holdings Inc. acquired a new stake in Ivanhoe Electric in the 2nd quarter valued at about $26,000. UBS Group AG acquired a new stake in Ivanhoe Electric in the 2nd quarter valued at about $26,000. Barclays PLC grew its stake in Ivanhoe Electric by 533.5% in the 4th quarter. Barclays PLC now owns 3,896 shares of the company’s stock valued at $47,000 after acquiring an additional 3,281 shares during the last quarter. California State Teachers Retirement System acquired a new stake in Ivanhoe Electric in the 3rd quarter valued at about $47,000. Finally, Tower Research Capital LLC TRC grew its stake in Ivanhoe Electric by 671.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,434 shares of the company’s stock valued at $53,000 after acquiring an additional 3,859 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Ivanhoe Electric Stock Performance

Shares of Ivanhoe Electric stock opened at $10.46 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -9.18 and a beta of 0.94. The company has a quick ratio of 5.32, a current ratio of 5.45 and a debt-to-equity ratio of 0.17. Ivanhoe Electric has a one year low of $7.29 and a one year high of $16.75.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). Ivanhoe Electric had a negative return on equity of 46.23% and a negative net margin of 3,259.77%. The firm had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, equities research analysts forecast that Ivanhoe Electric will post -1.12 earnings per share for the current fiscal year.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.